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Business Mentor: The Power of Buying A Franchise Business

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Before you answer this question, you should ask yourself a few other questions:Owning Multiple Franchise BusinessesYou must be sure that you are ready to take up the challenge of owning more than one

franchise business. There is no guarantee that you will succeed in your next franchise business.

I know one entrepreneur who has started one franchise business and then opened another one just after 6 months. Apparently, the first branch was a huge success that she was able to get her ROI immediately. So she started a new one. After a few months and she was on her third branch. She thought that it would again be successful because the brand expanded over the years. But she had to forfeit the franchise for that branch because its location was not acceptable to the franchise.

If you plan to start multiple franchise businesses, you need to make sure you have enough resources, strategic locations, and enough time to manage multiple businesses. There are store managers that can be hired to help the business owner check the everyday operations, but there are also individuals who may take advantage of the business owner’s absence. This is why if you can’t be physically present to check your businesses regularly, then you might as well just stick to one or two.-----------------------------------------FB Page: Butz Bartolome

 

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